Every Successful PT Tracks This

There is no doubt that business gets glamorized all the time. We see the flashy stuff posted on Instagram, the freedom having a business affords you, and the life you’re able to live… but we don’t see behind the scenes… the nitty-gritty of what goes into the decision-making process of getting your business to a successful point.

Well, that’s what this piece of content is all about. The metrics in your business that you should be tracking so you can make sound decisions.

You may have heard the term KPI (Key Performance Indicators) thrown around, but what does that mean? We’re going to share some of the key data points you should be looking at and understand how they can guide your decision-making process. 

Let’s break that down a bit.

Step 1 - What variables are important?

Now, this list isn’t all-inclusive, but it will help you create some frameworks for how to think about the concept.

Some common variables we want to look at are number of leads (how many people submit their info or take a certain step in your journey, for example), number of prospects (how many people do we have more formal conversations with or book calls with), number of evaluations booked, number of clients who convert to a follow-up visit, and number of clients who buy a package. There can be more, but let’s focus on these for the sake of brevity.

Step 2 - What do you want to calculate?

For our clients, we generally look at:

How many leads convert to prospects? 

• Number of discovery calls/total number of leads = %

How many prospects convert to evals?

• Number of evals/number of discovery calls = %

How many evals convert to clients? (and what percentage buy packages)

• Number of clients who go visit to visit + packages / total number of evals = %
• Number of clients who purchase a package / total number of evals = %

Step 3 - Identify problem areas and create a plan to attack them

Is the overall number of leads low? You need to focus on marketing and getting eyeballs on what you do.

Struggle to convert leads to prospects? You need to work on your nurturing sequence.

Struggle to convert prospects to clients? You need to work on your sales skills.

Struggle to complete plans of care? You need to work on your clinical skills.

It may seem simple, but it doesn’t have to be complicated to be effective. Data can be an important tool to help you understand where you need to invest to take your business to the next level. 

Now it’s time to crunch some numbers. Where do you see the most area of opportunity for your business?